Internetq Plc : Funzio hopes to raise major capital

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More people than ever before are engaging in mobile
gaming, with new titles coming out that garner a
massive following.

More people than ever before are engaging in mobile
gaming, with new titles coming out that garner a massive
following. One firm that is hoping to continue its
success is Funzio, which is seeking to raise between $50
million and $350 million, TechCruch reports.

The company, which makes role playing games including
Modern War and Crime, is headed by Ken Chiu, who has
worked in the industry for years. Prior to Funzio, Chui
was able to sell a startup firm to Zynga. There are other
employees who have brought experience to the mobile
entertainment firm.

"Both [Chiu] and Anil Dharni were behind Storm8,
another mobile gaming company with several top-grossing
Android games under its belt, before they split with the
other co-founders and started Funzio," the source
reports. "The company's roadmap and traction were
compelling enough that they were able to poach Jamil
Moledina, an executive who spearheaded third-party
publishing efforts for Electronic Arts."

Funzio has been making other headlines when it comes to
online gaming. The company announced that it was
launching Kingdom Age for Facebook and it may create a
mobile application if there's enough interest,
according to Inside Social Games.